Article: Investing Abroad Is Not Always Good for Bank Balance, Says UK Tax Adviser.

By Rob Griffin, Sunday Business, London Knight Ridder/Tribune Business News

Apr. 22--Siphoning your hard-earned fortune into an offshore account has traditionally been viewed as the most effective way of shielding your wealth from the beady eyes of the taxman.

Cyprus, Monaco, the Cayman Islands, Guernsey and sun-drenched Barbados have all earned reputations as tax havens by those wanting to fund luxury lifestyles without being stung for major contributions to the British government's coffers.

Very low income tax rates and, in many cases, the absence of both capital gains and inheritance tax has made them immensely attractive propositions in ...

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